True, and it is very sneaky. Please mark Brainliest!!!
Answer:
Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.
Explanation:
Closing Entries
a. Accounts Payable: No it is not closed to income summary account.
b. Advertising Expense: Yes it is closed to income summary account.
c. Cost of Merchandise Sold: Yes it is closed to income summary account.
d. Dividends : No these are closed To Retained Earnings Accounts.
e. Merchandise Inventory : Yes it is closed to income summary account
f. Sales Yes it is closed to income summary account
g. Supplies: No prepaid supplies are an asset account and it is included balance sheet.
h. Supplies Expense: Yes it is closed to income summary account
i. Wages Payable: Not closed in the income summary account.
These are liabilities and included in the balance sheet.
The answer is true. Hope this helps.
Entrepreneurs are people who design, launch and run new businesses that are initially small with an aim of making profit. When entrepreneurs are bringing a new business or a new production method to the market they are innovating. Innovation is the process of implementing new idea or method of production in a business to create or increase value of a organization.
Answer:
We can assume companies form country A export to country B. Country B's economy is very large and many domestic and foreign firms compete in it. High levels of competition will eventually lower the costs of products sold in a market, so the products sold in Country B have relatively low prices.
In order for foreign companies to compete in country B's market they must have low prices. So companies from country A will sell its products in country B at low prices, increasing the possibility that the price of their exports are lower than their domestic prices (prices for their own country). Therefore the chance for a dumping accusation increases.
